Gas supply will be key to the coalition’s energy policy after the federal opposition walked away from a net-zero emissions target.
Speaking after senior Liberals and Nationals met to endorse the plans, Opposition Leader Sussan Ley said the coalition sought to reduce carbon emissions, but not at the expense of family or business budgets.
“Our plan secures Australia’s energy future by putting affordability first,” she told reporters in Sydney on Sunday.
“The plan that I released today is all about affordable energy and responsible emissions reduction.”
Under the coalition, interim emissions reduction targets are also opposed along with various Labor policies to bring down emissions.
These include a safeguard mechanism capping big polluters’ emissions and a scheme designed to encourage uptake of electric vehicles.
The coalition would establish an east coast gas reserve, put constraints on renewable projects in regional areas and remove a ban on nuclear power.
Nationals leader David Littleproud said the coalition settled on a “cheaper, better, fairer way” to reduce emissions and curb climate change.
“This debate is not one predicated on science. It is one predicated on economics.”
Opposition energy spokesman Dan Tehan said he looked forward to selling their affordable plan “because there is now a very, very clear contrast when it comes to this debate”.
Opening new gas fields forms part of the coalition’s policy.
Taxpayer funds would be used to underwrite power generation, including coal and gas-fired stations.
“Consumers can be absolutely confident that once we have charge of energy policy in this country, we will start to change the rules as soon as possible,” Ms Ley said.
That meant changing the rules around the supply of gas and the operating rules of the energy system.
Foreign Minister Penny Wong, a veteran of Canberra’s so-called climate wars, earlier said the coalition’s decision to abandon net zero would do little to shift public opinion.
Watered-down climate targets would drive up power prices for Australians and show disrespect towards Pacific nations, Senator Wong said.
Prime Minister Anthony Albanese echoed her comments, saying the coalition’s “uncertainty” on energy and climate policy would put increased pressure on power prices.
“If anyone thinks that there is certainty in the coalition going forward, then they’re not paying any attention to the rabble and clown show that the coalition have become when it comes to energy policy and climate policy,” he told reporters in Melbourne.
Climate policy has been a contentious issue within the coalition for decades.
At the last two federal elections, the Liberal Party lost inner-city seats to independent candidates focused on climate action.
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